Investors signing a deal for projects they aim to help the economy of Palawan.

Cooperatives of farmers and fisherfolk from the different towns of Palawan signed a deal with the local and foreign investors through a memorandum of understanding for assistance in exporting their agricultural products during an investment forum held on Thursday.

Gubernatorial aspirant and businessman Agapito Salido Jr. said he organized the investment forum to help attain the agricultural productivity for sustainable agriculture, industrialization program, and environmental protection for sustainable development.

Salido said he believes that the deal with the investors will help to ensure food security and export the surplus for improving the economy of Palawan.

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Cooperatives of farmers and fisherfolk from the different towns of Palawan signed a deal with the local and foreign investors through a memorandum of understanding for assistance in exporting their agricultural products during an investment forum held on Thursday.

He said the investors from Iran and Dubai will focus on rice production, large-scale lobster farming, and organic farming. The total investment may range from $5-10 billion in value, where developments will be seen within a year, if he wins in the elections.

Aside from improving the local agriculture industry, the investors are also eyeing oil exploration activities in some parts of Palawan.

“Ibig sabihin kapag pumirma na sila, nakatali na sila, they will invest sa Palawan (with) massive application ng organic farming, tutulong din sila. Ibig sabihin, kaya gusto nila i-organize ang hanay ng kooperatiba para kung sakaling nandyan na, cooperative ang gagamitin nila para ang implementation ay maayos. Kapag individual tagal ‘yon,” Salido said.

Gubernatorial aspirant and businessman Agapito Salido Jr. said he organized the investment forum to help attain the agricultural productivity for sustainable agriculture, industrialization program, and environmental protection for sustainable development.

“Baka umabot pa yan ng 5 to 10 billion US dollars lahat-lahat including oil exploration, agricultural productivity, environmental protection, and industrialization program. Kapag pumirma na ‘yan, tuloy-tuloy na ‘yan. Kung tayo papalarin in three years term, in one year lang makikita na natin,” he added.

Salido shared the interest of foreign investors namely Yash Somabhai Barot, an investor from United State of America in tourism and agriculture and Elyas Nirodmand Tomajih, sales director of JEY Oil Iran who were both present during the forum shows that they have a trust to invest in Palawan.

“Kaya walang pumapasok na investors – kabado sila because of corruption. Kaya sinabi ko na sa presentation, kami mismo ay hindi kukuha ng sweldo, bibigay namin sa scholarship program, dadagdagan pa ng investors. Ibig sabihin lang noon, kaya sila papasok because we are in good faith. Kilala nila ako, kilala ko sila, gusto nila maaayos ang kanilang investment,” he said.

Atty. Timothy Yee of the Office of the Cabinet Secretary said the national government welcomes the interest of foreign investors to bolster the livelihood of Filipinos. The expertise of the investors will be helpful to speed up the development agriculture industry in Palawan.

“Currently naman under PPRD’s administration, opened the lines to foreign investors. I think this will be beneficial to the country considering syempre in terms of livelihood, agriculture, fisheries ang mas may expertise are the foreigners. Considering na open na ang country to foreign investors, it will really help and expedite the improvement of lives of Filipino people,” he said.

“For sure their might be a bit of hesitation pa rin pero as long as meron naman nagpipresenta, makikita rin natin na open na rin sila,” he added.

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is one of the senior reporters of Palawan News. She covers agriculture, business, and different feature stories. Her interests are collecting empty bottles, aesthetic earrings, and anything that is color yellow.